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 High
school grad heading into the workforce: Saving and investing
By
Bankrate.com
Open a savings
account
Learn to save early, but that doesn't mean you have to save
it all. A good savings habit to kick off now is to put aside
10 percent of your income. Just commit to save a specific
amount. And, get started!
Links:
Make
the most of your income, Get
a savings plan, Put
your money to work for you, Find
the best CD rate, Find
the best money market rate, Calculator:
Watch your savings grow with regular deposits
Invest
for the future
A great savings vehicle for you to consider
is an Individual Retirement Account (IRA). You can set aside
as much as $3,000 per year by making deposits either weekly,
monthly or in a lump sum.
Let's say, you put $3,000 into an IRA
and leave it alone. Over the next 45 years, if it earns an
average of 8 percent, your investment will grow to a whopping
$108,490. That's pretty good work!
Links:
Become
a millionaire with a Roth IRA, Save
early for greater returns, Reach
your savings goal with regular payments, Computer
games that improve financial skills
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